$7.6 billion in crypto long positions have been liquidated over the previous hour as bitcoin’s value plunged to $52,000, knowledge from bybt.com shows.
Bitcoin’s value started to pattern downwards early Saturday, however the steep plunge started round 3:00 UTC on Sunday.
Bitcoin’s value dropped by greater than 10% over the previous hour, from $58,000 to beneath $52,000, throughout which round $4.3 billion in bitcoin long positions had been liquidated.
As of the time of writing, bitcoin’s value has bounced again to round $55,000.
Overall, $9.2 billion in crypto long positions have been liquidated in the final 24 hours.